Pyxis Tankers Inc. (NASDAQ:PXS) Shares Shorted: Short Interest Down 42.8% in September

Key Points

• Short interest fell 42.8% in September to 21,660 shares, representing 0.5% of Pyxis Tankers’ outstanding shares and just 0.1 days of average trading volume to cover.
• Institutional ownership stands at 56.19%, with Renaissance Technologies increasing its position by 38.2% to 119,001 shares during the first quarter.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating. Pyxis Tankers also exceeded quarterly expectations, reporting $0.27 EPS versus $0.20 expected and revenue of $12.13 million versus $10.34 million estimated.

Pyxis Tankers Inc. (NASDAQ:PXS - Get Free Report) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 21,660 shares, a decline of 42.8% from the September 15th total of 37,843 shares. Currently, 0.5% of the company's shares are sold short. Based on an average daily volume of 147,506 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On Pyxis Tankers

An institutional investor recently raised its position in Pyxis Tankers stock. Renaissance Technologies LLC grew its position in Pyxis Tankers Inc. (NASDAQ:PXS - Free Report) by 38.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 119,001 shares of the transportation company's stock after buying an additional 32,900 shares during the period. Renaissance Technologies LLC owned 1.16% of Pyxis Tankers worth $505,000 at the end of the most recent quarter. 56.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PXS has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Pyxis Tankers from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 3rd. Alliance Global Partners restated a "buy" rating on shares of Pyxis Tankers in a research report on Tuesday, September 29th. Finally, Weiss Ratings upgraded Pyxis Tankers from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

Pyxis Tankers Stock Performance

Pyxis Tankers stock traded down $0.55 during midday trading on Thursday, reaching $7.63. 59,068 shares of the company traded hands, compared to its average volume of 73,648. Pyxis Tankers has a 12 month low of $2.56 and a 12 month high of $8.34. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.72 and a quick ratio of 4.68. The business has a 50 day moving average of $6.38 and a two-hundred day moving average of $5.12. The firm has a market capitalization of $78.13 million, a price-to-earnings ratio of 9.38 and a beta of -0.54.

Pyxis Tankers (NASDAQ:PXS - Get Free Report) last released its quarterly earnings results on Monday, August 31st. The transportation company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.07. Pyxis Tankers had a return on equity of 8.24% and a net margin of 20.00%. The business had revenue of $12.13 million during the quarter, compared to the consensus estimate of $10.34 million.

About Pyxis Tankers

Pyxis Tankers Inc NASDAQ: PXS is a maritime transportation company that owns and operates a fleet of oceangoing vessels. The company primarily provides seaborne transportation for refined petroleum products, crude oil, vegetable oils and other liquid bulk cargoes, serving customers involved in the energy, commodities and industrial sectors.

Pyxis Tankers' fleet has included product tankers and other commercial vessels, with operations focused on transporting cargoes through international shipping routes.

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